Kremlin-backed republic of Ukraine to hold referendum on joining Russia

by Jeffrey Smith Investing.com — Two Russian-backed regions in eastern Ukraine announced Tuesday that they will hold a referendum this weekend to join the Russian Federation, The move could lead Russia to claim that Ukraine has brought the war to its own territory. The so-called autonomous government of the Donetsk and Luhansk People’s Republic, with the blessing of the Kremlin and the support of the Russian army established200,two Everyone said that voting will be held from September rd-th. Russian Foreign Minister Cher Galavrov is q RIA Novosti quoted RIA Novosti as saying the decision was “a matter of the people who live there.” The Republic’s action comes after Russia’s war in Ukraine took a huge turn in Ukraine’s favor, a successful counterattack recaptured thousands of square miles of territory around the eastern city of Kharkov, threatening Russian troops in Donetsk , Luhansk and further west and south supply lines. They also coincided with a major meeting in Moscow between Russian President Vladimir Putin and the head of the country’s defense industry, amid speculation that Putin will call for a major strengthening of the campaign in Ukraine. Russian200 benchmark stock index fell 9.3% in early Moscow trade , although rubles stabilized at slightly below Converted to US dollars. The rouble market has been dominated by central banks since February, when they intervened heavily to stem unwanted volatility.